A federal judge has made a tentative ruling to let the government pursue its $5 billion civil lawsuit accusing Standard & Poor’s of defrauding investors by inflating credit ratings prior to the financial crisis, Reuters reports.
In a ruling made public late on Monday, U.S. District Judge David Carter in Santa Ana, California, said the government had sufficiently alleged that S&P intended to deceive investors with ratings that were objectively and subjectively false.
